June 17, 2022
As part of the regime effort to give Iran a much larger population, banks are now required to give couples interest-free loans for each child they have in increasingly larger loans for each child up to five.
The banks will be required to give the loans even though most Iranian banks are already saddled with mountainous debts and huge stocks of loans that are not being repaid.
The government estimated the volume of mandatory loans the banks would have to make this Persian year for all causes, not just baby loans, at 6 quadrillion rials ($21 billion), but the Majlis more than doubled that figure to 13 quadrillion rials ($46 billion). All of these loans are interest-free, which makes it harder than ever for the banks to stabilize their operations.
Here is the scale of the interest-free loans that will have to made to parents, according to an announcement April 20 by the Central Bank.
Child m rials US$
1st 200 725
2nd 400 1450
3rd 600 2200
4th 800 2900
5th + 1000 3600
